Many experienced forex traders choose this broker due to their “ECN Trading Account” and Meta Trader based platforms with advanced charting utilities. It also offers one the highest leverage of 1:2000

Expert Opinion

User reviews

Specifications

EXNESS is a Russian broker established in 2008 at St. Petersburg, Russia. Headquarter is situated at New Zealand. They have not adopted social networking concept of forex trading yet which is kind of old fashioned. Except this issue EXNESS is an extremely popular and attractive broker due to their offers and services.

They have over ten thousand new users with more than 100 Billion USD trading volume per month. They are committed to their partners and clients to provide accessible, reliable and high quality brokerage services using the latest technologies. Their employees are top specialists in financial markets and latest technologies. They are dedicated to reaching clients satisfaction in trading and investing in financial markets.

Trading Platform:

Exness provides popular and widely used Meta Trader based trading platforms. They offer both Meta Trader 4 and Meta Trader 5 platforms for computers and laptops. These platforms support Windows and Mac operating systems. They also provide mobile based platforms for iPhone/iPad, Android, Blackberry and windows operating systems.

Exness provides Meta trader 4 and Meta trader 5 platforms for trading. Meta trader 4 is the most used trading platform in forex trading. This platform allows two forms of executions; Instant Execution and Market Execution.

Exness allows option and share trading with Meta trader 5 platform. This advanced platform has two more order types besides the order types of Meta trader 4. These two new order types are Buy Stop Limit and Sell Stop Limit. Meta trader 5 has Level 2 Quotes which is more advanced to analyze market depth. Traders can develop trading systems in MetaEditor function of Meta trader 5.

Main Features:

Exness offers pretty high leverage (maximum 1:2000) which is very attractive feature for traders or investors having small deposit amount. This is the prime feature of this broker which attracts more traders than any other regulated forex brokers. Another prime feature of this broker is tight and variable spread. This feature attracts scalpers and short term traders.

Exness offers multiple types of account so traders can choose a suitable one among them. Account opening process is very easy and user-friendly. Fast deposit and instant withdrawal option with various payment methods is the key feature of this broker.

Types of Trading Accounts:

Exness provides 4 different types of trading accounts. A trader can choose the best one for him/her among these different types of trading accounts. These are as follows, 1. Cent Trading Account: Minimum deposit for this type of account is $1. This is suitable for new comers in forex market who is willing to take fewer risks. 2. Mini Trading Account: Minimum deposit for this type of account is $10. Beginners who have improved their forex trading skill by demo trading or building trading strategies. 3. Classic Trading Account: Minimum deposit for this type of account is $5000. This type of account is suitable for advanced and experienced forex traders. 4. ECN Trading Account: Minimum deposit for this type of account is $1000. Experienced traders those who seek fast execution without any interruption and conflict of interest with the broker.

Commissions and Spreads:

Many online forex brokers do not charge any commissions for trading. Exness is one of these brokers. They earn from the spread which is variable but very low. Their spread on major pairs is as low as 0.3 or 0.7 pips. This low spread is very rare in case of any other online forex brokers available. In case of ECN accounts, they charge a minimum fee of $25 for each one million dollar trade.

Customer Service:

Exness has a highly reliable and top quality customer service for their customers and partners. They have various customer service methods to serve their clients with best possible service.

These customer service methods are as follows, Live Chat Call Back Service 24 hours Telephone support Email support

What We Liked:

ECN Trading Account: This type of account is particularly useful for experienced forex traders who need instant execution without any interruption by a broker or dealing desks.

Automatic Withdrawal Process: This is a unique feature among online forex brokers. A trader can withdraw his/her fund instantly without placing any withdrawal request to finance department which usually takes some time for processing the withdrawal.

Meta Trader 5: They also provide Meta Trader 5 platform besides Meta Trader 4. Meta Trader 5 is more advanced and user-friendly platform designed for advanced charting and trading. Meta trader 5 has more trading orders and timeframes than Meta trader 4 platform. It also has advanced MetaEditor and MetaQuotes Language 5 for development of trading systems and indicators.

What We Disliked:

No Web-based Platform: They do not have any web-based trading platform. So, you can not trade without their trading platforms in case of unavailability of trading platform.

Absence of OCO Orders: In some cases, old pending orders can be opened as unexpected trading positions. OCO orders overcome this limitation; thus this type of order is a necessary trading tool for traders. Exness does not allow OCO orders, which can be taken as its major limitation.

No Bonus Offers: Currently Exness is not offering any bonus offer for their clients. They do not offer bonus without a deposit and do not have a bonus offer for the first deposit as well. This can de-motivate new comers to open account with them. Everybody wants bonus offers as bonus provides more purchase power which may saves a trader from getting a margin call.

The Bottom Line:

Exness is an award winning broker for order management and trade execution. They are also famous for low variable spreads. Many new comers would like to trade with them as they offer “Cent Trading Account” with $1 deposit and also offer a high leverage of 1:2000. Many experienced forex traders choose this broker due to their “ECN Trading Account” and Meta Trader based platforms with advanced charting utilities. Well organized customer support center and fast deposit or withdrawal methods are also key features of this broker. I would suggest them to provide bonus offers otherwise they may lose new clients. They should improve their features by allowing OCO orders.

EXNESS broker is actually quite good, because the broker has a great leverage to 1:2000. besides, instant deposit and withdrawal system. I have enough experience with this broker. High leverage help trading strategies I use. but the broker has a drawback, which MT4 platform that runs less than the maximum. frequent requotes and slow connections. I hope this would improve the connection broker MT4 platform become better.

Portion of actual user comment on Moneytalkvillage.com

Excellent forex broker, I trade with it by $7000 and everything is okay, fast withdraw and a good platform, great and honest forex broker